https://www.taxtmi.com/manuals?id=1136 Deduction of partner payments in a firm is restricted to authorised payments made within statutory limits. Remuneration is allowable only to a working partner who is an individual actively engaged in the business, and only if the partnership deed authorises the payment for the relevant period. The deduction is capped by book-profit based limits, and interest to partners is allowable only if authorised by the deed, relates to a period after the deed, and does not exceed 12% simple interest per annum, subject to representative-capacity rules. en-us Tue, 15 Sep 2015 11:14:00 +0530 Fri, 01 May 2026 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1136 Deduction of partner payments in a firm is restricted to authorised payments made within statutory limits. Remuneration is allowable only to a working partner who is an individual actively engaged in the business, and only if the partnership deed authorises the payment for the relevant period. The deduction is capped by book-profit based limits, and interest to partners is allowable only if authorised by the deed, relates to a period after the deed, and does not exceed 12% simple interest per annum, subject to representative-capacity rules. Manuals Income Tax Tue, 15 Sep 2015 11:14:00 +0530 https://www.taxtmi.com/manuals?id=1136